A Melbourne restaurant that’s home to celebrity chef Scott Pickett’s Smith St Bistrot is for sale with price expectations in the mid-$2m range.

The Collingwood eatery is known for its French-inspired menu and opulent interior reminiscent of a 1920s Parisian brasserie.

Pickett’s stable of venues includes Little Bourke St’s Longrain and Longsong, Little Collin’s St’s Chancery Lane, Northcote’s Estelle, Collingwood’s Smith St Hotel and Pickett’s Deli & Rotisserie at Melbourne Airport.

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He’s also appeared on the television cooking shows Snackmasters alongside Poh Ling Yeow, The Hotplate with British food writer and critic Tom Parker Bowles and Gordon Ramsay’s Food Stars.

In August, Pickett spoke to the Herald Sun after a tumultuous 12 months which saw his hospitality business enter voluntary administration after racking up $27.2m in debt, saying he was excited for the future.

The chef opened the Smith St Bistrot in 2022 after previously operating the Saint Crispin fine-dining venue in the building, a former shoemaker’s workshop dating back to the 1880s.

The 300 Smith St address belongs to a private owner, while Pickett is the tenant.

The Smith St Bistrot at 300 Smith St offers a slice of Parisian-esque charm in Collingwood.

The Smith St Bistrot is Scott Pickett’s take on a classic French bistrot, mixed the eclectic vibe of Melbourne’s inner north. Picture: Tania Bahr-Vollrath.

The private dining area, named La Vie En Rose, can host up to 70 guests.

Jones Real Estate’s Mimi Hoang, who has the listing with colleagues Paul Jones

and Vincent Lam, said the eatery features marble tables, a beautiful chandelier and mezzanine level enclosed by wrought-iron fencing.

A private dining and function room named La Vie En Rose, fitted with handpainted murals and an original fireplace, is accused via a spiral staircase.

“It’s got a very intimate vibe like in Paris when you’re sitting in a booth, it’s very intimate but still has a bit of space – definitely a little slice of Paris in Collingwood,” Ms Hoang said.

The site earns $120,205 a year in rent with fixed 4 per cent annual increases in place.

It has a five-year lease with two further five-year options extending through until 2039.

Ms Hoang said Melbourne hospitality setups were attracting buyers from both interstate and overseas, as well as locals, at the moment.

Pickett trained as a chef in Melbourne and London kitchens, including three years as junior sous chef to restaurateur Philip Howard at the two-Michelin starred The Square in London.

Smith St is known as one of Melbourne’s most famous retail and hospitality strips, across both Collingwood and Fitzroy.

She noted that since May, when the Australian government announced negative gearing changes for residential investors, many buyers have started opting to invest in commercial property rather than homes.

“We’ve seen a lot of first-time commercial buyers start ringing through and asking questions about how it works, and the differences in buying a residential property or having a residential tenant versus having a commercial tenant,” the agency manager said.

Last month, Melbourne cafe king Julien Moussi purchased Pickett’s South Yarra venue Matilda 159.

300 Smith St, Collingwood, is for sale with a deadline of 12.30pm on October 7.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

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Could 2018 be your year? The year you finally crack the property market? 

Market trends and property data will only get you so far; first you need to be in a position to part with the cash.

Paul Thomas, CEO of Gateway Bank, shares how high-interest savings accounts, paying down your debt and obtaining a good credit score could help you get into property numero uno before the year’s out.

Let’s approach this step by step.

Step #1: Pay down your debt

Let’s be real, if you’re saddled with debt it’s unlikely you’re going to be able to save for a home.

Paul says reducing any debt – from personal loans to those you incur on your credit card – can help you in more ways than one before purchasing a home.

“It puts you in a better position as a borrower when you apply for a home loan,” he says. “Lenders will assess you on a range of factors, and your debt level is one of these.”

“The less debt you have, the more cash flow you’ll also have to put towards mortgage repayments. It’s simple: The less debt you have, the better position you’ll be in financially.”

Thinking about the dream home won’t bring it any closer – that starts with saving. Picture: realestate.com.au

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Step #2: Budget to save

When saving for a deposit, it’s crucial to not only pay down your debt but to have a regular savings plan, Paul explains.

“Saving a deposit doesn’t happen by accident – you have to be organised and consistent,” he says.

The first step is to analyse your finances and work out a budget.

“A budget should help you identify where your money goes in any given month and where you can make small cost-cutting measures,” Paul says.

“This will also allow you to have a realistic idea of how much you can put away every week,” he adds.

Step #3: Fast-track your savings

Debt-free and fancy free? Not a chance.

Once your hard-earned is going into your bank account – not your credit card – it might be tempting to spread your wings a bit.

Well rein it in, because it’s actually a much better time to start building up your genuine savings.

Opening up a term deposit could help you lockdown your savings. Picture: Getty

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You might have heard the terms ‘high-interest savings account’ and ‘term deposit’ float around before, but how can these actually help you?

“High-interest savings accounts and term deposits are intended to boost your savings by offering interest on the money you hold in them,” Paul says.

“Unlike an everyday transactional account, these products generally have no account-keeping fees.

“A term deposit also provides the added benefit of locking your savings away for a specified term, which means you’re less tempted to dip into your savings for impulse purchases.”

If you’re looking to build a deposit for a home, these types of products could provide a huge helping hand. Essentially, they make your money work harder by earning interest on your savings, helping you to boost your savings more quickly.

If you’re not confident you’ll remember to regularly deposit money into your new savings account, Paul says you could look into setting up a direct debit from your everyday account to your savings account.

Step #4: Check your credit score

What the heck is a credit score, we hear you ask?

Essentially, it’s a number that is calculated based on the information in your credit reports that lenders will use to determine your reputation as a borrower. The higher your score, the more attractive you could seem to potential home lenders when applying for a loan.

It’s easy to check your credit score online. Picture: Getty

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“Lenders may use this information to decide if lending you money [to buy a home] is worth the risk,” Paul says.

“Things like the type and size of credit you request on your loan applications; paying your bills on time; not applying for too many credit cards; paying off outstanding loans and credit card debt; or your employment history can all impact your overall credit score,” he says.

If you haven’t ever looked up your credit score, now is the perfect time to do it.

You’re entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies, such as Equifax, Dun and Bradstreet and Experian.

If the number comes back high – congratulations. You’re one step closer to that #dreamhome.

Have a read of Gateway’s free First Home Buyer’s Guide for more tips.

This article was originally published on
29 Jan 2018 at 9:00am
but has been regularly updated to keep the information current.

Are you renting a place you love, but also looking to purchase your first home? Why not buy your rental property – even if it’s not on the market?

While it may seem counterintuitive to contemplate buying a property that’s not technically for sale, an increasing number of tenants across Australia are doing exactly that and approaching their landlords through agents.

LJ Hooker’s head of property investment management Amy Sanderson says the phenomenon of renting to own is real. “It doesn’t happen every day, but it does happen,” she says.

Sanderson says such bold “tenant-turned-buyers” generally fall into two categories: tenants who have been renting a property for a very long time and are finally ready to buy, yet don’t want the risk of having to move; and potential buyers who move into a rental to ‘try’ a new area and end up falling in love with the property they are in.

“For these tenants, purchasing makes sense,” she says.

If you love living where you rent and are ready to buy, why not make an offer to your landlord? Picture: Getty

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But how can it be done? Sanderson says it comes down to research and realism.

“Research, research, research!” she says. “Go onto realestate.com.au and search for properties with a similar description to yours and go and view these properties to get a feel for what the real comparisons are.”

Then, keep an eye on what properties sell for and record it.

Research the market to get a true sense of what the property is worth. Picture: Getty

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“Compare these properties to yours and determine what you believe market value is. If you pay over the odds for a property because you want to secure it, you want that to be your conscious decision, not because you didn’t know,” Sanderson says.

Armed with market intel and an offer, reach out to the owner, though the property manager.

“I would suggest putting your offer in writing, so your message is clear and not misconstrued. Discuss that you like the property, what else has recently sold, how this property compares and your price you have come up with,” she says.

It’s also a good idea to “educate yourself on the cost and process” of selling a property, so there’s no surprises, Sanderson says.

“Where an owner sells direct to a tenant, they may save on some of these costs – and stresses – involved, meaning you might be able to negotiate a price that accommodates this saving for both of you.”

Whether a landlord will sell depends on personal circumstance, Sanderson explains.

“People buy an investment property to make money, so for someone to consider selling, they need to feel they have made a return on their investment. The tricky part is, everyone’s view on what an adequate return looks like is different.”

This article was originally published on
8 Feb 2018 at 4:32pm
but has been regularly updated to keep the information current.

More South Australian farming land has hit the market just weeks after news several other high-profile properties have changed hands, including sheep stations snapped up by billionaire Charlie Shahin.

Five landholdings across the state are up for grabs, and buyers are expected to be found for all of them by October.

It comes as two SA sheep and cattle stations change hands in separate deals this month, with the family behind one of Australia’s largest manufacturers of mobile waste and recycling containers, MASTEC, securing one.

Billionaire Charlie Shahin – of Adelaide’s wealthy Shahin family, which was formerly behind the OTR petrol and convenience store empire – also purchased a group of South Australian sheep stations, it was reported earlier this month, which make up the largest aggregation of their kind in the world.

‘Vater Family Aggregation’, Saddleworth – Greenhills.

‘Vater Family Aggregation’, Saddleworth – Crawfords.

‘Vater Family Aggregation’, Saddleworth – Przibillas.

One of the recent portfolios to hit the market spans 1104ha across the Saddleworth and Manoora districts in the state’s Mid North region and includes four of the five landholdings.

Held by the Vater family, the aggregation’s four landholdings are non-contiguous and have been operated under long-term leasing arrangements with local farming families over the past decade.

It has productive and versatile farming land suited to broadacre cropping and livestock enterprises.

Both districts are known for their reliability across cereals, oilseeds, legumes, pulses, hay production, prime lamb and wool production.

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The four landholdings include Greenhills, which is just over 564ha with 396ha of highly productive arable farming land and 160ha of grazing country, Crawfords (142.88ha), Przibillas (239.27ha) and Hogbens/Ricks (157.41ha).

Ray White Rural South Australia director Daniel Schell, who is selling the aggregation with Geoff Schell, said Greenhills was the most versatile with a stone homestead and operational infrastructure, including hay sheds, a two-stand shearing shed and sheep and cattle yards.

“Greenhills provides an appealing combination of scale, productive arable land and grazing country, together with the infrastructure to support both cropping and livestock enterprises,” he said.

The aggregation will be auctioned at the Clare Sporting Complex on October 15.

Meanwhile, a premier broadacre cropping engine in Maitland is expected to attract national and global interest.

‘Watervalley Farm’ Broster Rd, Maitland.

‘Watervalley Farm’ Broster Rd, Maitland.

‘Watervalley Farm’ Broster Rd, Maitland.

Watervalley Farm, which is held by Watervalley Investments Pty Ltd, is 25km from the port at Ardrossan and 45km from Wallaroo receival hubs.

Mr Schell, who is also selling this property with Geoff Schell and Sam Krieg, said the property encompasses about 813.3ha of 100 per cent arable and highly fertile land in the tightly held heart of the Yorke Peninsula.

Mr Schell said buyers could purchase the entire property or choose from four non-contingent lots ranging from 130.7ha to 258.2ha.

“Opportunities to acquire more than 813.3ha of entirely arable farming land in one continuous holding, particularly with the level of infrastructure that exists at Watervalley Farm, are exceptionally rare,” he said.

“Watervalley Farm is not simply a large-scale parcel of quality cropping land.

“The combination of the land resource, long cropping runs, grain storage capacity and operational infrastructure creates an exceptionally efficient farming platform.

“The opportunity to purchase Watervalley Farm as a whole or in any combination of the four lots provides genuine flexibility for purchasers, from local farming businesses looking to expand through to larger corporate and investment groups looking to secure additional scale and high-quality agricultural land.”

Expressions of interest for the property close on October 13.

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Is your property pitch missing the mark? Make the most of your sales price by scoping out your buyers using these techniques.

Understanding your market can lead to an increase in your selling price. Potential buyers want to see a lifestyle reflected in a potential home which they connect to, and the right connection can get them emotionally hooked.

Common problems

Have you encountered any of these problems?

• Not many buyers enquiring or coming through for inspections.
• Potential buyers not seeing the value in the property.
• Sale price is significantly lower than expected.

You could be selling a great property aimed at the wrong market.

Whether you’re selling your home or renovating for profit, understanding your buyers will help you tailor your pitch to attract the right audience and could help maximise the sale price of the property.

The basic principles of staging to your market

There are a few basic principles you need to start with, from the location and its demographics, to your property and its major features.

Location, location … location

Your suburb will offer a few clues as to the kind of people who would be attracted to the area. A beachside suburb will attract a different kind of buyer compared with a suburb close to bushland, for example.

Emphasising this feature could be a key drawcard.

While location will hook many buyers in, it’s the nearby amenities that will play a big role as to whether buyers decide to take a closer look.

Proximity to shopping centres, transport, schools, universities and medical facilities will attract and repel different people. Buyers without a car will appreciate a shopping centre and access to transport within walking distance, whereas others may find the location too busy.

Young families may be after a property near parks and schools, whereas an older couple may appreciate quieter areas, for example.

Read more: Get an insight into suburbs around Australia with our suburb profiles 

Community-minded

The existing demographics of the neighbourhood will also give you an idea of who is likely to be attracted to the area. Who currently lives in the community? Retirees, couples (DINKs – double income no kids), singles, students, migrants?

Looking at the main population may also give you an indication of the kind of support local councils give, such as school holiday activities or youth drop-in centres in an area with a lot of families with school-aged children, or excursions for seniors in an area with an ageing population.

Also be aware of any trends. If the suburb has plenty of elderly residents, for example, it may be attractive to young families looking for a property in an established neighbourhood as the older generation move on. Gentrification of industrial areas is also common with investors and share house tenants willing to be the pioneers of warehouse conversions.

Read more: Know your suburb when selling your house

The property on offer

Lastly, the features of the property itself will be the last filter buyers use to figure out whether it’s worth attending an inspection. A garage or off-street parking could be a magnet for car owners but a turn-off for others. Big backyard? A great place for kids to play or a hassle to maintain.

Find out the wants and needs of most of the buyers looking in your marketplace and what expectations they have for similar or comparable properties. Also get an idea of what they are willing to spend in the area by looking at recent sales.

If you renovate for profit, it’s worth understanding likely buyers before you make key decisions about what to upgrade and invest in. It’s easy to over-capitalise if you don’t know your market; for example, fittings and fixtures are not of prime importance in lower socio-economic areas.

Once you’ve identified likely buyers, use this information to market your property. Don’t be too specific; try to include as many suitable buyers for that area as possible by making sure your home and staging appeals to the majority of the marketplace. If you can attract suitable buyers for a number of different reasons without polarising anyone, you’re well on your way to presenting your property in the best possible way.

Research tips

1. Use real estate & homes websites
   Websites such as realestate.com.au and Pinterest to find inspiration. Look at properties in the sold property section or to look at comparable properties and see how they’re marketing themselves and what price they’re being offered for.
2. Talk to local real estate agents
   Real estate agents know how to sell a property. It’s their job. They know what to highlight in a property for a certain neighbourhood and they can give you information on what’s been selling in the area and to what kind of buyer.
3. Visit open homes
   Going to OFIs in your area will allow you to experience a ‘pitch’ for yourself. Also look at the buyers that are attending the open homes and listen to what they’re saying about them.

Read more: How to tell if a suburb is right for you

This article was originally published on
21 Jul 2014 at 7:00am
but has been regularly updated to keep the information current.

Key takeaways

• It’s a buyer’s market in a majority of U.S. housing markets, meaning homebuyers have the upper hand.
• Buyers and seller activity dropped in July, as economic worries and historic unaffordability keep many on the sidelines.
• The Sun Belt is home to the strongest buyer’s markets; the Midwest, Northeast, and Bay Area are home to the remaining seller’s markets.
• Housing markets vary widely, so take into account local market dynamics and talk with an agent to get the full picture.

The U.S. is in one of the strongest buyer’s markets on record. Following the pandemic-fueled seller’s market in 2021, sellers now outnumber buyers by over 51%—a near-record share. In numeric terms, there are an estimated 1.46 million sellers and 966,000 buyers in the market today. Generally, the greater the seller surplus, the stronger the buyer’s market.

However, at the core of the housing market is a historic affordability crisis, making it feel anything but buyer-friendly. Most consumers are holding off, so those who can afford to buy often have the upper hand.

Here’s what to know about buyer’s vs seller’s markets, how to tell which market you’re in, and where each side has the most leverage right now.

What is a buyer’s market vs seller’s market? 

Buyer’s market 

A buyer’s market happens when there are more homes for sale than buyers to purchase them. When this is the case, buyers typically drive negotiations and are more likely to receive concessions. 

Home prices tend to grow more slowly in buyer’s markets than seller’s markets. But if a buyer’s market sees prices cool substantially, the pendulum may swing back toward sellers as more homebuyers come off the bench, pushing prices up again.

The current market is an anomaly, though. There are few enough sellers and such a shortage of affordable inventory that prices are being pushed up more quickly even though buyers have significant leverage.

Seller’s market

A seller’s market occurs when demand exceeds supply. Buyers outnumber sellers, creating more competition and fueling bidding wars. Sellers typically lead negotiations in a seller’s market and see homes sell for above asking. House prices also tend to rise more quickly and sell faster.

The strongest buyer’s markets in 2026

Sellers outnumber buyers by the most in these ten metros, giving buyers more leverage. Redfin defined a “buyer’s market” as one where sellers outnumbered buyers by at least 10%. Buyers gained negotiating power in 34 of the 39 buyer’s markets nationwide.

The Sun Belt—cities stretching from the Southeast to the Southwest—is home to all of the nation’s strongest buyer’s markets. Miami sits firmly on top, while Austin is in fifth—ground zero for the cooldowns sweeping pandemic boomtowns since 2023. 

The Sun Belt skyrocketed in popularity during the pandemic, when scores of homebuyers moved in from more expensive parts of the country, driving up housing costs and pricing many locals out of the market. They are now among the fastest-cooling markets in the country.

Housing supply also plays a role. Florida and Texas in particular saw a surge in homebuilding during the pandemic to meet demand, but many of these homes are now sitting unsold as buyers back off. Florida’s housing inventory reached its highest level on record in 2025, with demand dropping due to rising prices, climate risks, and surging insurance costs.

The strongest seller’s markets in 2026

In a handful of metros, buyers still outnumber sellers, giving sellers the edge. Redfin defined a “seller’s market” as one where the buyers outnumbered sellers by at least 10%, and only six metros made the cut.

The Midwest and Northeast are home to nearly all of the remaining seller’s markets. Homebuilding and population growth has historically lagged in these regions; with more people looking to move to the region for homes they can afford, supply is falling far short of what’s needed and pushing prices up. San Francisco has also seen a surge in demand largely due to an influx of AI wealth. 

What buyers should do right now

• If you’re buying in a buyer’s market: This is the ideal time for buyers to make a move, if you can afford to. Home prices may decline, listings stay on the market longer, and sellers are more likely to negotiate. You may see price reductions, seller concessions, or repairs included to close the deal. With less competition, buyers have more leverage to secure a home at a better price.
• If you’re buying in a seller’s market: Sellers hold the upper hand, and competition among buyers can be fierce. Homes often sell quickly and attract multiple offers, which can drive prices well above asking. If you’re buying in a seller’s market, be prepared to act fast and make strong offers; trying to negotiate too aggressively could cost you the home.

>> Read: Is Now a Good Time to Buy a House?

What sellers should do right now

• If you’re selling in a buyer’s market: Selling becomes more challenging when inventory is high and demand is low. Homes tend to sit on the market longer, and homeowners are more likely to offer concessions. Today, the typical home takes nearly 50 days to sell, and almost half of sellers are offering concessions.
• If you’re selling in a seller’s market: This is a great time to sell. Homes typically move quickly, and competition among buyers can lead to multiple offers, bidding wars, or offers above asking price. With high demand and limited inventory, sellers have the upper hand and are more likely to get favorable terms, including waived contingencies and minimal concessions.

>> Read: Should I Sell My House Now? 

How to tell if you’re in a buyer’s or seller’s market

Even if the national housing market favors buyers or sellers, individual cities and regions usually vary widely. Sometimes, even adjacent neighborhoods will have completely different trends. That’s why it’s important to do your research to understand which way your market leans. 

Here are a few ways to stay ahead of the competition.

Check the Redfin Data Center

Redfin publishes its monthly buyer vs. seller dynamics research to the newly updated Redfin Data Center for public viewing. On the dashboard, you can see whether the national housing market—and any of the 49 largest metros—leans toward buyers or sellers. This is a good way to get a baseline picture of the housing market, but it may not reflect your neighborhood or include your city. That’s where additional research and insight comes in. 

Talk with a local agent

Local real estate agents know their market best. They have up-to-date knowledge on how long homes are sitting on the market, whether sellers are cutting prices, and how competitive offers are. An experienced agent can tell you if buyers or sellers have the upper hand and help you make informed decisions in your area.

Research housing inventory

A common way to gauge which way a market leans is to look at “months of supply”—the number of months it would take for available inventory to sell at the current rate. Supply below 4 months tends to favor sellers, while supply above 5-6 months tends to favor buyers. Redfin publishes this data on the Redfin Data Center for every metropolitan area in the country. 

Track sale price trends

Price growth often accelerates during a seller’s market and cools during a buyer’s market, sometimes even causing home prices to fall. If prices are growing quickly and show no signs of slowing down, you could be in a seller’s market. 

Look at mortgage rates

Mortgage rates play a huge role in the housing market. Typically, the higher the rates, the less buyers shop for homes, making sellers more desperate for offers. This is the case today, which is helping put buyers in the driver’s seat.

Looking forward

Economic uncertainty continues to throw a wrench into the housing market, with inflation, the Iran War, tariffs, and immigration policy all playing a role. Homebuilding is also more expensive than ever, putting pressure on the nation’s aging housing stock. 

But there are positives on the horizon. In part because housing costs are so high and so few homes are selling, price growth has slowed—and in some places, they are falling. There will be bumps in the road, but Redfin economists expect price growth to slow further and affordability to improve in the coming years.

The prolonged seller’s market is over, so serious buyers with the budget may want to act now while competition remains lower.

Methodology

All data covers July 2026 and is seasonally adjusted (except for median sale price), dating back to 2013. Please see this article for the full methodology, and this report for Redfin’s most recent analysis, including a full metro-level breakdown.

The real estate market may have caught a break: a potential trade deal with America’s Tariff Don appears to be taking shape.

The less welcome news is that the real estate market still faces a long list of unknowns.

First, the positives

To a large degree, sentiment drives real estate values.

More confidence means more buyers competing for properties.

Bank of Canada staff research estimates that in the median Canadian city, a one per cent rise in housing demand pushes prices up roughly 0.45 per cent.

But economic uncertainty has been a persistent problem. Among Canadians looking to purchase a home last year, Royal LePage found that 49 per cent said the ongoing trade dispute with the U.S. had caused them to postpone their home-buying plans.

Whatever the exact figure, tens of thousands of buyers went on strike, doubtful about spending six or seven figures on a home amid so much market uncertainty.

With the tariff clouds beginning to clear (assuming the deal is signed) and employment already improving, the labour market could receive a further boost, which usually generates additional real estate demand.

That is, unless the next factors kick in.

Why and how rates climb matters

Good economic news can eventually put upward pressure on borrowing costs.

If a workable trade deal is finalized by Saturday’s deadline, Canada should see more investment and employment, all other things equal.

That tends to be inflationary, something that keeps interest rates higher than they’d otherwise be.

Mind you, it’s possible that as job growth improves housing demand, rising rates pull it the other way.

But it depends on why rates are rising.

If rates climb gradually as the economy rebounds, with incomes and jobs keeping pace, history says prices generally rise — or at least drift sideways.

That relationship generally holds right up until the economy overheats and the Bank of Canada intervenes with rate hikes to control inflation.

But if one examines rates, unemployment, population and home prices going back to at least 1980 (the extent of my available data), it reveals an interesting pattern.

Average national home prices rose 3.7 per cent over the following year during stretches when the five-year bond yield was rising (as it is now) and unemployment falling (as it is now), versus 7.2 per cent when yields were dropping.

The thing is, if rates jump more than expected because inflation has overheated, that’s a shock, and it becomes a whole different conversation.

In that scenario, incomes and demand fail to keep up, and housing gets none of the usual benefit.

The takeaway

If you’re rooting for higher prices, this week’s overdue trade deal could be positive for real estate stability — unless rates shoot up out of a cannon and hurt credit accessibility.

For those praying for cheaper homes, hope might rest on two rather grim possibilities:

• An ongoing oil shock that forces the Bank of Canada’s hand with rate hikes; and
• Canadian bond market contagion driven by fears of unsustainable U.S. debt (which just hit a frightful US$40 trillion and is growing by US$91,000 per second).

Of course, wishing for economic disaster and the potential loss of hundreds of thousands of jobs merely to purchase a home more cheaply is questionable karma. But people do it.

For now, let’s hope for a modest trade win — or, failing that, a modest loss with a side of stability. That recipe would give labour and real estate a decent shot at firming over the next 12 months.

• The best mortgage rates in Canada right now
• The best reverse mortgage rates in Canada right now

Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news. You can follow him on X at @RobMcLister.

Looking to save on your mortgage?

For the best national insured and uninsured mortgage rates, updated daily, please visit our mortgage rate page here .

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Two 7-Elevens in Melbourne’s outer north have hit the market with one of the service stations expected to fuel a circa-$6m sale.

The South Morang outlet on Plenty Rd includes a vacant land parcel of more than 1000sq m which could potentially be developed in the future, subject to planning approval.

And the 7-Eleven in Wollert comes with a 12-year lease to 7-Eleven Stores Pty Ltd.

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Similarly, the South Morang store has a 10-year lease which commenced in 2020.

The 7-Elevens are being sold separately by different owners with the Plenty Rd site’s campaign managed commercial real estate agency JLL’s Dominic McGrath, Romanor Falconer and Tom Noonan.

Mr Falconer said the servo was a compelling prospect for investors because it offered both security and the opportunity for future development.

“The income is secured by a tenant that is part of a global $44.8bn company, providing a reliable foundation,” added.

The parcel of vacant land next to the 7-Eleven in South Morang makes up part of the listing.

The 7-Eleven, listed by a private investor, earns an estimated $328,050 a year according to realcommercial.com.au.

The 7-Eleven sits on a 3677sq m block which more than 50,000 vehicles drive past daily.

Mr McGrath said the City of Whittlesea, which includes South Morang and Wollert, had about 3500 new homes built every year.

Population forecasts show the municipality is expected to become home to 360,000 residents by 2041, an increase of 44 per cent.

Stonebridge Property Group’s Rorey James and Kevin Tong have the Wollert listing which offers four five-year options to extend its lease until 2058.

The stand-alone service station and convenience store was built on Epping Rd, earlier this year.

Inside the Wollert 7-Eleven which is located at 271 Epping Rd.

The service station and convenience store is 21km north of Melbourne’s CBD.

Mr James said he was expecting significant interest from investors, with the store returning $370,000 net income a year.

The property forms part of developer Oreana’s $45m million Linfield Place town centre where there’s also an Oporto, Subway and Snap Fitness.

Mr Tong said the recent expansion of Epping Rd from two to six lanes in front of the fuel out had more than doubled the road’s capacity, with 35,000 vehicles driving past every day.

Expressions of interest in the South Morang 7-Eleven close on September 17, while they close for the Wollert 7-Eleven at 3pm on September 17.

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The pay-to-save retail model popularised by Costco is spreading across Australia, with new entrants using memberships to promise cheaper groceries and fuel – and forcing a rethink of how big-box stores and servos plug into local catchments.

In Western Sydney, Grosco – quickly dubbed the “Indian Costco” – has opened in Penrith with the trappings of a warehouse club: bulk packs, a paid entry system and an appeal to families determined to cut the weekly bill.

Launched in March, it carries more than 1000 products in both bulk and standard sizes and targets Australia’s fast‑growing Indian and South Asian communities while still stocking Australian staples.

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Like its US inspiration, Grosco insists its business runs on member fees rather than fat margins.

“Traditional grocery stores mark up products 30–50 per cent. We don’t do that. Grosco runs on razor‑thin margins because we’d rather have thousands of members saving money than charge a few customers inflated prices. The membership fee is what keeps our business running,” a spokesperson said.

Shoppers who joined in launch month paid $79 before the annual fee shifted to $99 from April.

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Grosco claims to save people more than $1000 over the course of a year.

However, the business appears to run monthly membership discount initiatives

The company claims a family spending $100 a week on Indian groceries could save roughly $1200 to $1800 a year versus other Indian grocers – a pitch that’s resonated, with Grosco saying it recruited 800 new mums in May via a Mother’s Day free membership offer.

LMCT+: Adrian Portelli’s subscription playbook

Billionaire entrepreneur Adrian Portelli is also taking a leaf out of Costco’s playbook, expanding his LMCT+ rewards empire into a subscription-based supermarket chain.

The first LMCT+ supermarket is set to open in Melbourne’s western suburbs, integrating grocery and fuel discounts under a single $99 “Everyday Saver” membership.

Members paying the annual fee will gain access to discounts on both groceries and fuel at LMCT+ branded stations, including the flagship location in Preston.

Adrian Portelli says LMCT+ members will get instant access to the supermarkets and higher-tier in-store discounts. Picture: NewsWire / Andrew Henshaw

The initial supermarket location is reportedly the IGA in Deer Park, Melbourne, which Portelli appeared to confirm he had acquired.

The revamped IGA already boasts an expanded product range, including a butcher and Tattslotto services, aiming to be a comprehensive one-stop-shop.

Portelli also indicated that his new venture would provide a platform for small Australian businesses to get their products on shelves.

An AI-generated image of how the first LMCT+ supermarket in Melbourne could look.

In a characteristic move, he used the announcement to deliver a colourful rebuke to unnamed rivals, accusing them of copying his strategies.

Beyond groceries and fuel, the LMCT+ platform offers “Mates Rates” and exclusive discounts from over 1,000 partner businesses across various sectors, alongside its highly regarded giveaways of luxury supercars, cash, and real estate.

Kogan First: The digital membership model

Not every membership looks like a shed on an arterial.

Online, Kogan First has become a digital analog to a wholesale club, trading a $129 annual fee (or $14.99 monthly) for member‑only price drops, free shipping and reward credits across electronics, pantry items and everyday essentials.

The company says the program now drives more than 10 per cent of total revenue.

However, it hasn’t been without controversy.

The 14‑day free trial can be pre‑ticked at checkout, and customers who don’t untick it can find themselves rolled onto a paid plan when the trial ends – a reminder to check renewal settings before you buy.

Costco: The established template

The gravitational centre of this trend still belongs to Costco, which set the template locally: a compulsory membership to shop, with two personal tiers – Gold Star at $65 a year and Executive at $130 – each including a free household card for someone at the same address. Executive members get an annual 2 per cent cashback on eligible purchases.

Shannon Hendry shopping with daughters Cleo, 3, and Charlie, 4, at Costco Warehouse in Bundamba. Picture: Tara Croser.

Join online or in‑warehouse, present a non‑transferable card for entry and at checkout, and shop across a global network for 12 months from the primary cardholder’s enrolment date. Business memberships sit at similar price points.

The pay-off is bulk buys and sharp pricing on brand‑name groceries, electronics and clothing, with fuel at many locations, and renewals handled online or in‑store.

The future of membership retail

In a cost‑of‑living crunch, the calculus is straightforward: if you shop often enough – and have the storage – the fees can pay for themselves; if you don’t, the maths unravels quickly.

The competitive ripple effects are real: sharp fuel pricing from a membership operator can pressure nearby servos, while a $99‑a‑month bundle could create micro‑catchments where members default to a single network for both the weekly shop and the tank fill.

All of which brings the story back to Costco’s next act – and why the market’s watching closely.

Bailey Rock fills his car with discounted items he purchased at Costco. Picture: Eleni Tzanos

The retailer has 15 warehouses across the country and is set to add two more next year in Victoria and Western Australia, while actively hunting additional sites in North and South Sydney, Perth and Adelaide.

First‑time entries into Tasmania and Geelong underline a push into new catchments.

If the pioneers of membership retail continue to expand while challengers like Grosco and LMCT+ carve out niches, the pay‑to‑save model won’t just reshape how Australians shop; it will keep redrawing the retail map itself, one oversized box – and bowser – at a time.

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Key takeaways

• The Chicago housing market slightly favored sellers in May, but the balance of power was nearly even.
• Home prices, sales, and listings all rose as activity returned to the market.
• The city’s seasonal trends acted more “normal” than they have in years, in line with the national market’s slow reset. 

Chicago housing market snapshot

Spring housing season was in full swing in May, and Chicago’s market followed suit. Sales increased, homes moved faster, and prices climbed. The typical listing took about seven weeks to sell, but those that were well-priced moved more quickly than in previous springs. The market was nearly perfectly balanced, but strategy still mattered.

Learn everything you need to know about the Chicago, IL, housing market as we edge closer to summer, and what buyers and sellers can do to succeed.

U.S. housing market snapshot

Nationally, prices are rising, inventory is growing, and pending sales are up. The prolonged slow and expensive buyer’s market that has defined the post-pandemic market is finally showing signs of thawing—but buyers are still firmly in charge.

“Housing has been stuck in a rut for years, with buyers and sellers priced out and too few homes to go around,” said Chen Zhao, Redfin’s head of economics research. “While conditions are still difficult, many cities are undergoing a yearslong reset from the pandemic, with price growth easing and inventory climbing—helping affordability improve as wages rise. Pending home sales have increased over the last three months, which is an early sign that buyers and sellers are beginning to reenter the market. But volatility tied to the Iran War is keeping everyone on edge.”

Let’s dive into the Chicago housing market.

Chicago’s housing market slightly favored sellers

In Chicago, buyers outnumbered sellers by just 0.5% in May, giving the market a slight tilt toward sellers. The number of buyers rose 5% year over year in May, while the number of sellers was essentially flat. Nationally, it was essentially the opposite; there were 47% more sellers than buyers. 

Homes moved relatively quickly. The median home sat on the market for 51 days, and 44% of listings went under contract within two weeks. Meanwhile, 37% of homes sold above their original list price, compared to just 26% nationally. 

Active buyers should move quickly on well-priced listings—homes that are priced right are still drawing multiple offers. Sellers can be confident in the demand but shouldn’t overprice; the data shows buyers are active but not desperate, and overpriced homes are sitting.

Prices rose at a less frenzied pace

The median sale price in Chicago reached $379,900 in May, up 5.4% year over year. That was a continued upward trend, but a deceleration from the 8.3% year-over-year growth at this time in 2024 and the 6.1% gain last year. Chicago’s appreciation outpaced the nation as a whole (where prices rose just 1.9%), but the gap narrowed. 

To put this data into context, Chicago’s median sale price has nearly doubled from its post-recession lows. The sharpest growth came during the pandemic, when prices jumped by $50,000 in under two years. The current pace of growth is far more sustainable, averaging roughly 5–6% annually since mid-2024.

Home searchers shouldn’t wait for price drops from sellers, though. Only 11% of active listings in Chicago have had a price reduction, compared to 20% nationally. That said, sellers who do cut their price are cutting by an average of 4% of their list price. Sellers should price to the market, and buyers should make competitive offers.

Inventory held steady

Active listings held steady at 26,679, up less than 1% year over year—essentially flat after several months of modest growth. New listings climbed 4%, a sign that more homeowners chose to sell. Combined with months of supply at 3.1 (compared to 3.5 nationally), Chicago remained a tighter market than the U.S. as a whole.

The data painted a picture of a market that was unevenly normalizing: inventory plateaued near its multi-year rebuild level, but demand absorbed much of it before supply could accumulate meaningfully. For buyers, that meant a similar number of options as last year and still limited leverage on price.

All data is a Redfin analysis of MLS, U.S. Census Bureau, and/or county record data. Check the Redfin Data Center for additional in-depth housing market data.